Mysorepalace

Cash, Liquor, Gold And Narcotics

Rs 120 crore

What is it?The total amount of cash, liquor and narcotics seized in Karnataka as on April 30, 2018, ahead of the state assembly elections on May 12.

Why is it important?Of the 22 state assembly polls held in India since the 2014 general elections (including the upcoming Karnataka polls), Karnataka is ranked third among states on number of such seizures. Increasingly, political parties look for candidateswith deep pockets, while voters support them despite their questionable history with the expectation that they might be able to deliver when the state doesn’t.

Tell me more:Karnataka might overtake Tamil Nadu (around Rs 130 crore seized in the 2016 elections) on total seizures. Uttar Pradesh tops the list, with a cumulative seizure of over Rs 190 crore.

 

$40.7 billion

What is it?The fair value of Warren Buffett-controlled Berkshire Hathaway of Apple shares, as of March 2018.

Why is it important?That makes Apple the largest holding in the $172 billion investment portfolio of Berkshire, rising above Wells Fargo. During the January to March quarter, Berkshire added about 75 million shares of Appleto the 170 million it already owned.

Tell me more:Even as Berkshire, known for investing in consumer-oriented businesses, bulked up on one of the rare tech stocks in its portfolio, Buffett admitted he made a wrong decision to not invest in Google and Amazon.

 

$1.5-2 billion

What is it? The estimated losses of Air Indiain 2018-19 and 2019-20 if its divestment does not take off, according to aviation consultancy Centre for Aviation (CAPA) India.

Why is it important?Making a case to make the terms of sale more attractive to investors, the consultancy predicts that failure to divest could result in Air India’s closure unless the government spends more taxpayers’ money. Major airlines such as Indigo, Jet Airways, Emirates and Qatar Airways have opted out of bidding for Air India. The Tata Group is also unlikely to participate.

Tell me more: The government will accept expression of interests from potential bidders until the end of the month. The government hasprovided equity support of Rs 26,545 crore, against a total of Rs 30,231 crore earmarked, under a 10-year, turnaround plan in 2012.

 

6

What is it?The number of months within which the system for taxpayers to file only one monthly return (as against three now) will be ready.

Why is it important?The GST (goods and services tax) Council approved a simpler tax return filing system on Friday, which would reduce the burden of compliance on taxpayers. There will be a unidirectional flow of invoicesto be uploaded by sellers, after which the input tax credit will be available to the buyer. The GST Council deferred its decisionson allowing an incentive for digital payments and imposing a cess on sugar.

Tell me more: The GST Council has also decided to convert GST Network into a government-owned entity, with the central government and states owning 50% stake each.

 

2-2

What is it?The scoreline in El Clasico, as the Spanish League match between Barcelona and Real Madrid is known, played on Sunday night.

Why is it important?A 10-man Barcelona side, playing at home, clung to a draw in a fast-paced and heated encounter. The draw meant Barcelona still remain unbeaten in the Spanish League, with three matches to play. Barcelona, already crowned champions for the season, is aiming to become the first side to stay unbeaten in the Spanish League since its expansion to a 20-team format.

Tell me more: Across seasons, this Barcelona side holds the Spanish League record for the longest unbeaten streak, which now stands at 42, four better than Real Sociedad in 1979-80.

 

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